As England’s rivers fail and US hedge funds circle Thames Water, campaigners urge Andy Burnham to act

Campaigners are urging Andy Burnham to intervene over the worsening state of England’s rivers, arguing the country’s largest water company should not be left in the hands of US hedge funds seeking to profit from environmental failure.

The call comes as a major new assessment by the Environment Agency paints a damning picture of England’s waterways. Just 14.3 percent of rivers, lakes and coastal waters are now classified as being in good ecological condition, the first comprehensive review in six years shows little meaningful improvement despite repeated government promises and billions of pounds earmarked for environmental investment.

Not a single water body in England passed the regulator’s chemical pollution test. The Environment Agency (EA) says the continued failure is driven by the accumulation of toxic legacy pollutants, including heavy metals and persistent “forever chemicals,” while the government remains on course to miss its legally binding target of restoring 77 percent of waters to good ecological status by 2027. The environmental watchdog, the Office for Environmental Protection has warned that target will be missed by a considerable margin and has launched an investigation into both the government and the EA over potential legal failures.

Public ownership campaign group We Own It says the crisis demonstrates the failure of England’s privatised water model. While only 14.3 percent of England’s waters meet good ecological standards, around 66 percent do so in Scotland, where water remains publicly owned.

The campaigners say Andy Burnham should begin reversing the decline by supporting permanent public ownership of Thames Water rather than allowing the company to remain under the control of US financial investors.

“Andy Burnham must decide if he will stand up for YOU or allow US hedge funds to rinse Thames Water for profit,” the campaigners say.

The criticism is directed at the consortium of US hedge funds and other creditors now attempting to take control of Thames Water. Having positioned themselves to acquire the company through its financial collapse, campaigners argue the creditors’ overriding interest is extracting returns from an essential public service rather than repairing failing infrastructure or restoring rivers.

It’s the latest chapter in a privatisation model that has rewarded financial engineering while leaving customers to pick up the bill. Thames Water increased household bills by an average of 40 percent in 2025 despite years of sewage pollution, mounting debt and ageing infrastructure. Since privatisation in 1989, the company has paid out an estimated £12.9 billion to shareholders even as environmental performance deteriorated.

We Own It notes that Thames Water’s creditors had previously expected to absorb losses of at least 40 percent. Instead, creditors are now putting forward a “last-ditch attempt to keep the utility in private hands. They’re suggesting that a governmental ‘golden share’ and a ‘local public control supervisory structure’ would give the public greater control over the utility.”

They argue the ‘control’ offered by the creditors is nothing more than an illusion,” and warn that ultimate power would remain with financial investors whose primary obligation is to maximise returns.

To press their case, We Own It has launched an open letter to environment secretary Angela Eagle and Ofwat chief executive Chris Walters calling on the government to reject what it describes as a hedge-fund takeover of one of Britain’s most critical public services. Tens of thousands of people have put their signature to the letter urging the government to reject the deal and put Thames Water into special administration immediately.

“Under public ownership, money can be directed away from the pockets of shareholders and towards investment in crumbling infrastructure, and lowering bills. Households, environmental groups and workers will be able to make decisions about how the utility is run, as part of the Board,” it states.